Bank of Nova Scotia Acquires 816,428 Shares of Kenvue Inc. $KVUE

Bank of Nova Scotia raised its stake in Kenvue Inc. (NYSE:KVUE) by 62.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,115,410 shares of the company’s stock after purchasing an additional 816,428 shares during the quarter. Bank of Nova Scotia owned 0.11% of Kenvue worth $36,470,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. grew its holdings in shares of Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after acquiring an additional 618 shares in the last quarter. Elyxium Wealth LLC bought a new position in Kenvue during the fourth quarter worth about $26,000. MV Capital Management Inc. purchased a new position in Kenvue in the 4th quarter valued at approximately $28,000. Reflection Asset Management purchased a new position in shares of Kenvue in the fourth quarter valued at $32,000. Finally, SBI Securities Co. Ltd. increased its position in shares of Kenvue by 82.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company’s stock valued at $39,000 after buying an additional 1,027 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 1.9%

KVUE opened at $19.25 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $22.87. The stock has a market capitalization of $36.97 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 1.43 and a beta of 0.47. The firm has a 50 day moving average price of $18.38 and a 200-day moving average price of $17.92.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 EPS. Equities research analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a yield of 4.3%. Kenvue’s dividend payout ratio is currently 97.65%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings upgraded Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 15th. Barclays upped their price target on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday. Wall Street Zen raised shares of Kenvue to a “buy” rating in a research note on Sunday, July 12th. Citigroup dropped their price objective on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Finally, Zacks Research downgraded shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.58.

Insider Transactions at Kenvue

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.59% of the company’s stock.

About Kenvue

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.